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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
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- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
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